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3232Citigroup, Feedzai Partner to Thwart Fraudhttps://news.lendit.com/2018/12/20/citigroup-feedzai-partner-to-thwart-fraud/
https://news.lendit.com/2018/12/20/citigroup-feedzai-partner-to-thwart-fraud/#respondThu, 20 Dec 2018 16:22:42 +0000https://news.lendit.com/?p=15663As the threat of cyber crime continues to grow, Citigroup had announced it is partnering with artificial-intelligence-powered fraud-detection startup Feedzai to bolster the bank’s $8.5 billion Treasury and Trade Solutions business. Citigroup processes $4 trillion in payments each day for thousands of corporations and public institutions across the world and has reported increasing threats from sophisticated cyber crooks. A record 78% of organizations fell victim to payment fraud last year, according to a 2018 survey from the Association for Financial Professionals. Source.
]]>https://news.lendit.com/2018/12/20/citigroup-feedzai-partner-to-thwart-fraud/feed/0Security Remains Key Issue in Bank/Fintech Partnershipshttps://news.lendit.com/2018/12/06/security-remains-key-issue-in-bank-fintech-partnerships/
https://news.lendit.com/2018/12/06/security-remains-key-issue-in-bank-fintech-partnerships/#respondThu, 06 Dec 2018 16:35:55 +0000https://news.lendit.com/?p=15550A recent study conducted by Ponemon Institute, highlighting the threat of third-party cyber events, found that 59 percent of more than 1,000 executives surveyed said they had experienced a data breach as a direct result of a cyberattack on a vendor or other third-party partner. The study, titled “Data Risk in the Third-Party Ecosystem” also claims these instances of cyber attacks are rising in frequency. Source.
]]>https://news.lendit.com/2018/12/06/security-remains-key-issue-in-bank-fintech-partnerships/feed/0Cybersecurity Spending on the Rise for Financial Firmshttps://news.lendit.com/2018/12/04/cybersecurity-spending-on-the-rise-for-financial-firms/
https://news.lendit.com/2018/12/04/cybersecurity-spending-on-the-rise-for-financial-firms/#respondTue, 04 Dec 2018 19:41:51 +0000https://news.lendit.com/?p=15532Facing the specter of increased threats and more frequent attacks, U.S. banks and other financial firms are projecting higher spending on cybersecurity. In a recent survey of 100 senior security officers conducted by Thales eSecurity, 84% said their firms are planning to spend more this year on cybersecurity, up from 78 percent a year ago. Additionally, approximately 36% of companies said they experienced an intrusion in 2018, up from 24 percent in last year’s survey. Source.
]]>https://news.lendit.com/2018/12/04/cybersecurity-spending-on-the-rise-for-financial-firms/feed/0Marriott Data Breach an Unwelcome Guest for Banks… Dating Back to 2014https://news.lendit.com/2018/12/03/marriott-data-breach-an-unwelcome-guest-for-banks-dating-back-to-2014/
https://news.lendit.com/2018/12/03/marriott-data-breach-an-unwelcome-guest-for-banks-dating-back-to-2014/#respondMon, 03 Dec 2018 17:31:18 +0000https://news.lendit.com/?p=15517Marriott is claiming that a data security incident involving the Starwood guest reservation database contains information on up to approximately 500 million guests and that there had been unauthorized access to the Starwood network since 2014. For around 327 million of these guests, the information includes some combination of name, mailing address, phone number, email address, passport number, account information etc. Source.
]]>https://news.lendit.com/2018/12/03/marriott-data-breach-an-unwelcome-guest-for-banks-dating-back-to-2014/feed/0Arrests Made in $5 Million Bulgarian Cryptocurrency Thefthttps://news.lendit.com/2018/11/28/arrests-made-in-5-million-bulgarian-cryptocurrency-theft/
https://news.lendit.com/2018/11/28/arrests-made-in-5-million-bulgarian-cryptocurrency-theft/#respondWed, 28 Nov 2018 19:55:36 +0000https://news.lendit.com/?p=15485Three people have been arrested by Bulgarian police after being accused of stealing $5 million in cryptocurrencies. Police seized $3 million in cryptocurrency at the scene and prosecutors claimed the attackers were very skilled and knowledgeable about cryptocurrency trading and used clever methods and special software to execute their attacks. Source.
]]>https://news.lendit.com/2018/11/28/arrests-made-in-5-million-bulgarian-cryptocurrency-theft/feed/0Cyberattacks Cost U.S. Economy at least $56bn in 2016https://news.lendit.com/2018/02/20/cyberattacks-cost-u-s-economy-least-56bn-2016/
https://news.lendit.com/2018/02/20/cyberattacks-cost-u-s-economy-least-56bn-2016/#respondTue, 20 Feb 2018 20:55:47 +0000http://news.lendit.com/?p=12083A new report by the Council of Economic Advisers said cyberattacks cost the U.S. between $56bn and $109bn in 2016; the council's report represents between 0.31% and 0.58% of the 2016 U.S. gross domestic product being at risk; the financial sector had the biggest number of attacks seeing about 471 breaches in 2016; the report made an ominous statement on detecting threats saying, “Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate.” Source.]]>A new report by the Council of Economic Advisers said cyberattacks cost the U.S. between $56bn and $109bn in 2016; the council’s report represents between 0.31% and 0.58% of the 2016 U.S. gross domestic product being at risk; the financial sector had the biggest number of attacks seeing about 471 breaches in 2016; the report made an ominous statement on detecting threats saying, “Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate.” Source.
]]>https://news.lendit.com/2018/02/20/cyberattacks-cost-u-s-economy-least-56bn-2016/feed/0Three Dutch Banks Hit by Cyberattackshttps://news.lendit.com/2018/01/30/three-dutch-banks-hit-cyberattacks/
https://news.lendit.com/2018/01/30/three-dutch-banks-hit-cyberattacks/#respondTue, 30 Jan 2018 18:12:56 +0000http://news.lendit.com/?p=11732ABN Amro, ING and Rabobank were the victims of DDoS cyber attacks this past weekend; all the banks saw their websites become unavailable or would run extremely slow; the companies have released statements that their services are now fully restored and that clients’ details were not compromised. Source.]]>ABN Amro, ING and Rabobank were the victims of DDoS cyber attacks this past weekend; all the banks saw their websites become unavailable or would run extremely slow; the companies have released statements that their services are now fully restored and that clients’ details were not compromised. Source.
]]>https://news.lendit.com/2018/01/30/three-dutch-banks-hit-cyberattacks/feed/0Cybersecurity Startups Raise $7.6bn in 2017https://news.lendit.com/2018/01/08/cybersecurity-startups-raise-7-6bn-2017/
https://news.lendit.com/2018/01/08/cybersecurity-startups-raise-7-6bn-2017/#respondMon, 08 Jan 2018 17:54:34 +0000http://news.lendit.com/?p=11385As bigger breaches occur startups focusing on cybersecurity have seen investment double in the last year; globally there was $7.6bn invested in cybersecurity startups this past year after seeing $3.8bn in 2016; global spending on cybersecurity was estimated to be over $80bn in 2017 as companies look to protect their data and company systems from evolving threats. Source.]]>As bigger breaches occur startups focusing on cybersecurity have seen investment double in the last year; globally there was $7.6bn invested in cybersecurity startups this past year after seeing $3.8bn in 2016; global spending on cybersecurity was estimated to be over $80bn in 2017 as companies look to protect their data and company systems from evolving threats. Source.
]]>https://news.lendit.com/2018/01/08/cybersecurity-startups-raise-7-6bn-2017/feed/0Banks Create The Sheltered Harbor Project to Prepare for Cyberattackshttps://news.lendit.com/2017/12/05/banks-create-sheltered-harbor-project-prepare-cyberattacks/
https://news.lendit.com/2017/12/05/banks-create-sheltered-harbor-project-prepare-cyberattacks/#respondTue, 05 Dec 2017 17:10:46 +0000http://news.lendit.com/?p=11005Sheltered Harbor began earlier this year and covers around 400 million accounts across banks and credit unions; members of the project are required to back up data so other banks can serve customers in the event that another bank becomes disabled; the project goes beyond concerns over customer data being stolen to address concerns that a cyberattack could destroy or lock data. Source]]>Sheltered Harbor began earlier this year and covers around 400 million accounts across banks and credit unions; members of the project are required to back up data so other banks can serve customers in the event that another bank becomes disabled; the project goes beyond concerns over customer data being stolen to address concerns that a cyberattack could destroy or lock data. Source
]]>https://news.lendit.com/2017/12/05/banks-create-sheltered-harbor-project-prepare-cyberattacks/feed/0SWIFT Sends Warning to Bankshttps://news.lendit.com/2017/11/29/swift-sends-warning-banks/
https://news.lendit.com/2017/11/29/swift-sends-warning-banks/#respondWed, 29 Nov 2017 15:40:56 +0000http://news.lendit.com/?p=10915SWIFT says that digital heists are on the rise as hackers are becoming more sophisticated in their tactics; they are recommending that banks increase security of computers used to transfer money; a Bangladesh Bank lost $81 million back in February, 2016 and there are more recent examples of hacks; the report provides details on the new methods hackers are using. Source]]>SWIFT says that digital heists are on the rise as hackers are becoming more sophisticated in their tactics; they are recommending that banks increase security of computers used to transfer money; a Bangladesh Bank lost $81 million back in February, 2016 and there are more recent examples of hacks; the report provides details on the new methods hackers are using. Source
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